August 31, 2016
In May, we partnered with the City of Philadelphia’s Revenue department, the tax experts for the 3-part series, “Navigating through City Taxes: Knowing the Liabilities and Discovering the Credits”. During this series, we learned about the BIRT & Net Profits Tax and Credit Offsets, Wage & Earnings Taxes and Job Tax Credits, as well as Use & Occupancy vs. Property/Real Estate Tax and Tax Exemptions. Each workshop was facilitated by Wayne W. Williams of the Community College of Philadelphia and Education Director of the Goldman Sachs 10,000 Small Businesses initiative.
In June, we shifted our focus to a 4-part series on construction to understand the nuances in this industry. First, we heard from Timothy Mason of STV on the Expectations of a Prime Contractor/Consultant. We found that the relationship between a prime contractor and its subcontractors is crucial and this workshop discussed the strategies to manage these expectations and how both can work collaboratively for the win-win. Then we heard from Bittenbender Construction about the unforeseen conditions and overlooked expenses that negatively impact the total cost of a project. We discuss the cost and conditions that must be included in a bid to avoid being on a good project that results in financial disaster. The third workshop focus on bonding and with help from Ellen Neylan of Surety Bond Associates we covered the fundamentals of qualifying for construction bonding, determining costs, positioning your company for increases in bonding lines, and avoiding defaults. And to wrap up our construction series we brought in Jennifer M. Horn of Horn Williamson, LLC to equip contractors on some measures that assist in the upfront negotiation and execution of contracts. Jennifer also covered managing disputes once they arise, from mediation to arbitration to litigation.
In July we looked at building personal credit and the process of buying your own commercial real estate. We know all too well that your personal credit is one of the first considerations in business banking and determining your business credit risk. Our personal credit workshop focused on how your personal credit affects your business growth; how credit reporting agencies determine your credit score; how to increase your credit score in less than 90 days; how to approach a creditor to resolve outstanding debt; and how to reduce or eliminate your debt. Then, we partnered with DorothyAnne Hamill, Esquire of Sirlin Lesser & Benson, P.C. to discuss buying commercial real estate for your business. We covered the full life cycle of purchasing commercial real estate for your business, including how to negotiate an Agreement of Sale, establish a renovation budget, and comply with your lender’s closing requirements.
In August, to conclude our Summer Series we brought in Angela Vendetti, a Food Business Consultant, to bring together our food related clients with our workshop: The Recipe for a Successful Food Business. Angela provided her 12 years of experience to help give attendees the tools it takes to be more viable, more profitable, and more fulfilling.
We had a jam packed Summer full of workshops, and we want to thank everyone that has been a part of our Summer series. We hope to see you again.
If you are looking for a space to grow, learn, network, and engage we hope you join us. Check out our upcoming workshops and events for this Fall.